{"id":47995,"date":"2026-09-10T12:11:09","date_gmt":"2026-09-10T11:11:09","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=47995"},"modified":"2026-09-10T12:13:04","modified_gmt":"2026-09-10T11:13:04","slug":"administrators-reveal-financial-details-of-voneus-acquisition-of-airband","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2026\/09\/administrators-reveal-financial-details-of-voneus-acquisition-of-airband.html","title":{"rendered":"Administrators reveal financial details of Voneus’ acquisition of Airband"},"content":{"rendered":"

The administrators for alternative UK rural broadband network Airband<\/a>, which was recently acquired by Voneus<\/a> (full summary<\/a>), have published a report that reveals the financial details of the deal. Strikingly, it states that Voneus<\/a>, which was the only bidder, paid just \u00a34.6m for the company’s assets and customers.<\/p>\n

According to the administrators report<\/strong><\/a>, Airband<\/a> had been struggling for a number of years and its attempts to restructure the business in 2024 did deliver improvements, yet the company continued to struggle with losses and cash consumption. The company ended up advising their Lenders in June 2026 that the Aberdeen Group<\/strong> was “unable to continue funding the business<\/em>“, which we already know is what kicked off the sale process.<\/p>\n

NOTE:<\/strong> The combined networks of Voneus<\/a> and Airband<\/a> will bring broadband coverage to a total of 170,000 ready-for-service gigabit premises across full fibre (FTTP<\/a>) and gigabit-capable wireless technologies; it also grows their customer base to 60,000.<\/div>\n

However, only a single offer was received that was deemed “capable of being delivered within the time available<\/em>” (i.e. the Voneus offer) and this was accepted. The sale was then handled through an administration process, which resulted in a consideration of \u00a34.6 million<\/strong> being paid in full on completion. The shareholders of Voneus also agreed to pay a contribution to the Company’s costs of \u00a3550,000. A total of 135 Airband employees have been transferred (TUPE) to the new owner.<\/p>\n

The amount of debt (creditors) attached to Airband before the sale was \u00a3312.3m and the Aberdeen Group stands to lose over \u00a3228.8 million in secured debt alone, alongside the total write-off of their equity investment. The company’s biggest lender (HSBC), which accounted for \u00a381m of the total debt, will only get \u00a34m back. The full report contains a lot more detail, but those are the headline figures.<\/p>\n

Definitely not the sort of situation that other altnets will wish to repeat.<\/p>\n","protected":false},"excerpt":{"rendered":"

The administrators for alternative UK rural broadband network Airband, which was recently acquired by Voneus (full summary), have published a report that reveals the financial details of the deal. 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